Full text of U.S. Financial Data : April 4, 1996

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

fcYiT*
April
4,19%

Federal Reserve Bank
INI
>IKV1
ki si km;
It.WKol'
ST.IjOUS

THE WEEK'S HIGHLIGHTS:
✓ According to the final estimate, real GDP rose at a 0.5 percent
annual rate in the fourth quarter of 1995, 0.4 percentage points
less than the advance estimate. Real GDP rose 1.3 percent in
1995 (fourth quarter to fourth quarter).
✓ Real personal consumption expenditures advanced at an 115 percent
annual rate in February, more than offsetting the 7.7percent rate
of decline in January. Consumer spending rose at a 2.3 percent rate
between August 1995 and February 1996, down from a 3.5 percent
rate of increase over the prior six-month period.
The composite index of leading economic indicators increased
1.3 percent in February, only the fourth increase in the past
12 months.
✓ After rising 1.5 percent between October 1995 and January 1996,
factory orders for manufactured goods fell 1.4 percent in February.
Compared with February 1995, the value of total factory orders,
which is not adjusted for inflation, is up 1.2 percent.
✓ Real construction spending fell 1.1 percent in February, paced by
a 2.3 percent drop in public construction spending and a 1.5 percent
fall in nonresidential spending. The value of new construction
spending has risen 0.4 percent over the past 12 months.
AU data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank
of St. Louis. The cost for a subscription is $21 for one year (50 issues) or $36 for two years (100 issues).
For more information on data, please call (314) 444-8590. To request an order form, please call
(314) 444-8808 or (314) 444-8809. Sony, no refunds.

Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic
bulletin board at (314) 621-1824 or internet World Wide Web server at http://www.stls.frb.org/fred.

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

485

Billions
471.4
470.4
470.4
471.5
471.7
474.9

Jan 17
Feb 14

Mar 13

475

465

455
1

15

1

Feb

15 29 12 26 10 24 7
Mar

May

21

5

19 2

16 30 13 27 11 25 8 22 6 20 3
Aug

Jun

Sep

17 31 14 28 13 27 10 24

Oct
1996

1995

The adjusted monetary base is the sum of reserve accounts of financial institutions ot Federal Reserve bonks,
currency in circulation (currency held by the public and in the voults of oil depository institutions) ond on
adjustment for reserve requirement ratio chonges. The mojor source of the adjusted monetary base is Federal
Reserve credit. Oota are computed by this bonk. A detailed description of the adjusted monetary bose is
ovoiloble from this bonk.
Recent data are preliminary.

Adjusted Monetary Base
To the overoge of
two maintenance
periods ending:
8/30/95

Compounded onnuol rotes of change, overage of two maintenance periods ending:
,
,
,
,
,
,
3/29/95 6/21/95 8/30/95 9/27/95 10/25/95 11/22/95 12/20/95 1/31/96
2.8

9/27/95

2.2

1.4

10/25/95

2.4

1.9

1.4

11/22/95

1.6

0.8

-0.5

-0.3

12/20/95

2.0

1.5

1.0

1.6

0.6

1/31/96

1.8

1.3

0.9

1.3

0.6

2/28/96

1.7

1.2

0.8

1.1

0.6

1.9

0.6

3/27/96

2.1

1.7

1.6

1.9

1.6

2.9

2.2


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2.6

Prepared by Federal Reserve Bank of St. Louis

Money Stock(M1) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollors

Feb 19
Mar

4

Billions of Dollars

Billions
1114.2
1117.5
1130.0
1123.7
1130.1
1126.6

1996
Feb 19
Mor

4

Billions
732.3
734.5
746.7
740.5
746.0

Ml (left

■765

TCD (right scale)

-745

6 20

6 20

Feb

Mor

16 30 13 27 11 25 8 22 5
Apr

May

Jun

Aug

Sep

19

15 29

Oct

1995

1996

M1 is Ihe sum of currency held by the nonbank public, demand deposits, other checkable deposits ond travelers
checks. Totol checkable deposits is the sum of demand deposits and other checkable deposits ot depository
institutions. Current doto appear in the Federal Reserve Board's H.6 release.

Money Stock (M1)
Compounded onnuol rotes of chonge, overage of four weeks endinq:
To the overage
of four weeks
ending:

3/27/95

6/26/95

8/28/95

9/25/95 10/23/95 11/27/95 12/25/95

8/28/95

-1.0

9/25/95

-1.2

-1.0

10/23/95

-2.4

-3.1

-6.3

11/27/95

-2.5

-3.1

-5.0

-6.1

12/25/95

-2.8

-3.5

-5.1

-5.9

-4.1

1/22/96

-2.8

-3.4

-4.8

-5.2

-3.8

-4.3

2/26/96

-3.0

-3.6

-4.8

-5.1

-4.1

-4.5

3/25/96

-1.8

-2.0

-2.5

-2.4

-1.0

-0.4


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1/22/96

Prepared by Federal Reserve Bonk of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted
Billions of Dollars

Billions of Dollars
Billions
97.5
96.9
97.6
98.0
97.4
99.5

Jon 17

Mor 13

106

-

1

15
Feb

15 29 12 26 10 24 7 21
Mor

Moy

5

19 2

16 30 13 27 11 25 8 22 6 20 3
Aug

Jun

Sep

94

17 31 14 28 13 27 10 24

Oct

Adjusted reserves is the difference between the odjusted monetary base and the currency component of Ml.

Adjusted Reserves
Compounded annual rates of change, average of two mointenonce periods ending:
To the average of
two mointenonce
periods ending:

3/29/95

6/21/95

8/30/95

9/27/95 10/25/95 11/22/95 12/20/95

8/30/95

-2.3

9/27/95

-4.1

-0.7

10/25/95

-3.7

-0.9

-7.5

11/22/95

-6.5

-5.8

-13.8

-14.1

12/20/95

-5.2

-4.0

-9.1

-7.6

-10.6

1/31/96

-5.2

-4.2

-8.0

-6.8

-8.3

2/28/96

-4.1

-2.9

-5.7

-4.2

-4.9

1.9

3/27/96

-3.1

-1.7

-3.8

-2.2

-2.4

3.6


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1/31/96

-0.5

Prepared by Federol Reserve Bonk of St. Loui9

Money Multiplier
Averoges of Daily Figures
Seasonally Adjusted

Ratio

Ratio

3.0-1------------------------------------------—
Compounded onnuol rotes
of change, overage of
the four weeks ending
March 25, 1996, from
the four weeks ending:
2.8-

Jon 15

Feb 12

Mo r

27

Jun

19

-3.6

20

-2.9
-3.6
-2 . 3

Mor 11

-4 . 5

Nov

Dec
Jon

6 20 6

18

29

20 3

17

15 29 I? 26 10 24

Apr

May

7 21

18 2

Jun

Sep

16 30 13 27 11 25

8 22 5

19 4

18

15 29

Oct

1995

1996

Rotio of M1 to adjusted monetary bose.

Currency Component of M1
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded onnuol rates
of change, overage of
the four weeks ending
March 25. 1996, from
the four weeks ending:
Mar
27. 1 995
3 .
Jun
26, 1 995
2 .
Sep
25. 1 995
3 .
OcT
23. 1995
2.
Nov
27 . 1 995
2 .
Dec
25, 1995
2.

Billions
373.0
374.1
374.4
374.2
375.2
375.7

Feb 19
Mor

20

6

20

3

17

1

15 29 12 26 10 24

7 21

4

18

2

1995
Current doto appear in the Federol Reserve Boord's H.6 release.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16 30 13 27 II 25 8

22

5

4

19 4

18

1

15 29'

1996
Prepared by Federol Reserve Bonk of St. Louis

5

■360

Yields on Selected Securities
Averages of Daily Figures
Percent 10.0

9.0

Prime Rate

8.0

Corporate
Aaa Bonds
7.0

6.0

Municipal Bonds

5.0

4.0
3

17

3

17 31 14 28 12 26
Moy

1996
Jon

12
19
26
Feb
2
9
16
23
Mar
1
8
15
22
29
Apr
5

9

23

7

21

4

18

1

15 29 13 27 10 24
Sep

Jun

22 5

19

1

15 29 12 26

Oct

30-Day
Commercial
Poper

90-Day
COs

90-Doy
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Boo Bonds

Municipol
Bonds

5.59
5.57
5.51
5.42
5.28
5.29
5.28
5.30
5.31
5.37
5.44
5.48
5.43

5.45
5.39
5.36
5.23
5.15
5.13
5.14
5.16
5.19
5.31
5.33
5.34
5.34

5.36
5.32
5.28
5.14
5.06
5.05
5.07
5.09
5.11
5.23
5.26
5.26
5.26

6.86
6.80
6.81
6.82
6.87
6.86
7.13
7.20
7.21
7.42
7.41
7.39
7.38

7.52
7.45
7.47
7.46
7.50
7.50
7.77
7.86
7.90
8.10
8.10
8.09
8.08

5.50
5.40
5.46
5.40
5.37
5.33
5.48
5.57
5.59
5.81
5.86
5.90
N.A.

Current data ore from the Federal Reserve Board's H.15 release, and are overoges of rotes ovoiloble for the
week ending on April 5, 1996 .
•• Bond Buyer's Average Index of 20 municipol bonds, Thursdoy doto
N A - Not Available


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Selected Interest Rates
Averages of Daily Figures
Percent

Percent

..- 7.0

10-Year
Treasury Securities

Federal
Funds Rate

-6.0

Discount Rate

3-Month
Treasury Bill

15 29 13 27 10 24
May

1996
Jon

Feb

Federal
Funds ••

12
19
26
2

16
23
Mar
1
8
15
22
29
Apr
5 •
Reserve Boards' K 1*5

5.53
5.61
5.44
5.53
5.21
5.09
5.17
5.31
5.57
5.24
5.36
5.22
5.30

a

22

5

19

2

16

1

15 29 12 26

Jun

3-Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury

5.03
4.98
4.97
4.93
4.81
4.79
4.82
4.87
4.89
4.97
5.00
5.00
5.02

4.89
4.77
4.79
4.69
4.61
4.57
4.78
4.87
4.89
5.13
5.15
5.13
5.13

5.44
5.30
5.35
5.28
5.27
5.20
5.52
5.65
5.71
6.06
6.08
6.08
6.06

5.74
5.58
5.65
5.64
5.67
5.65
5.97
6.06
6.08
6.37
6.36
6.32
6.28

6.07
5.95
6.00
6.00
6.04
6.03
6.35
6.43
6.46
6.72
6.72
6.70
6.68

McurilieI' which °r« computed b)I this Bank, curre„, doto oppeor in th„ Federal

• Averages of rotes available
•• Seven-day averages for week ending two days eorlier thon date shown


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

7

8
Money Stock(M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
Billions
3690.8
3698.6
3719.0
3719.9
3730.2
3721.8

Feb 19

3700-

Mor

A

Billions of Dollars

------ L

M2 (left scale)
-2550

(right scale)

Non-M

Non-M1 M2

Mar

6 20 6 20
Feb

Mar

3

17
Apr

I

15 29 12 26 10 24
May

Jun

7 21
Aug

4

18
Sep

16 30 13 27 11 25

8

22

5

Billions
2576.6
2581.1
2589.0
2596.2
2600.
2595.2

4

1

4

18

1

- 2400

15 29

Oct

M2 is the sum of Ml, savings (including money market deposit accounts), small time deposits and retail money
funds. Current doto appear in the Federal Reserve Board's H.6 releose.

Money Stock (M2)
0° four“weeks®

Compounded annual rates of change, overage of four weeks ending:
3/27/95 6/26/95 8/28/95 9/25/95 10/23/95 11/27/95 12/25/95

1/22/96

ending:
8/28/95

6.4

9/25/95

6.1

10/23/95

5.6

5.2

11/27/95

5.3

4.7

3.5

2.9

12/25/95

5.3

4.8

3.9

3.6

4.0

1/22/96

5.4

5.1

4.5

4.4

5.0

2/26/96

5.2

4.8

4.3

4.2

4.5

5.1

3/25/96

5.8

5.7

5.4

5.5

6.0

6.9


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6.0
3.7

6.2

Prepared by Federal Reserve Bonk of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1996

1055

Small Time

Billions
1168.9
1 165.3
1 174.5
182.1

1996
Feb 19
Mor

4

1179.

Billions
933.8
932.6
930.6
928.7
927.1
926.6

1015

975

Small Time (right scale)
935

895

855

Savings Deposits (left scale)

815

6

20
Feb

6

20
Mor

775
Apr

Moy

Jun

Sep

Oct

1995
Savings deposits and small time deposits ore at all depository institutions.

1996

Large Time Deposits and Retail Money Funds
Averages of Daily Figures
Billions of Dollars

seasonally Adjusted

Billions of Dollars

Large Time
Billions
420.8
423.1
427.4
424.8
428.2
429.4

Retail Money
?96
Billions
473.9
483.2
483.9
485.4
489.5
488.7

Retail Money

Large Time

15 29
1996
Large time deposits and retail money funds are at all despository institutions. Large time deposits are those
issued in denominations of $100,000 or more. Retail money funds were originally colled general purpose
and broker/dealer money market funds.
Prepared by Federol Reserve Bonk of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

Billions
0.077
0.018

Feb 28
Mor 6

0.012
Apr

I

15

0.016
0.023
0.040

3

1

15 29 12 26 10 24 7 21
May

5

19 2

Jun

16 30 13 27 11 25 8 22 6 20 3
Sep
Oct

17 31 14 28 13 27 10 24

Borrowings include seasonal, adjustment and extended credit; extended credit was $19 million in the week ending
January 25, 1995, and was zero in the other weeks shown.

Bank Loans and Credit

All Commercial Banks in the United States1^
Seasonally Adjusted

Billions of Dollars
Bank Credit
Billions
3635.4
Feb 14
3640.7
3643.2
Mar
6
3614.5
3623.9
3626.6

3600-

Billions of Dollars

Bonk Credit (left scale)2/

Loans and Leases (right scale)

Loons&Leoses
Billions
2641.8
2644.0
2642.9
2636.5
2642.2
2646.8

Feb 14
_
28
6
13
20
1

15
Feb

1

15 29 12 26 10 24 7

21

5

19

2

16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24

Mar

1995
Current data appear in the Federol Reserve Board's H.8 releose.
1/ Includes foreign-reloted institutions
2/ Includes loons and leases and securities


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1996

Prepared by Federal Reserve Bonk of St. Louis

2500

Commercial Paper of Nonfinancial Companies
Billions of Dollars
Feb 21
Mor

6

Not beasonally Adjusted
Billions of Dollars

Billions
186.701
184.960
186.934
189.396
198.690
193.575

10 24
1995

1996

Commercial and Industrial Loans
Billions of Dollars

740-

720-

Seasonally Adjusted
Billions of Dollars

All Bonks
1996
Billions
Feb H
728.8
729.8
728.5
Mor 6
724.6
724.5
727.2

Bonks (left scale) 1 /

Large Bonks (right scale)^/

660-

1995

1996

Current data oppeor in the Federal Reserve Boord's H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domesticolly chartered banks


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Large Bonks
—
1996
Billions
Feb 14
352.3
21
352.7
28
352.1
Mor 6
351.9
13
351.5
20
352.9

11

_
Prepared by Federal Reserve Bonk of St. Louis

Dollar s Trade - Weighted Exchange Index
Averoges of Doily Figures
1973=100 110

1973=100

ltd 28

100

90

80

70
I

15 1 15 29 12 26 10 24
Feb
Mor
Apr
May

7 21
Jun

5

19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24
Jul
Aug
Sep
Oct
Nov
Dec
Jon
Feb
Mar
Apr

1995

1996

Current doto appear in the Federal Reserve Boord's H.10 release. Dato ore weighted overages of the foreign-currency
price of the U.S. dollar, computed using 10 industrial country currencies.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bonk of St. Louis

>1

3
05

J
0)